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How to Grow Your Business with Exit in Mind

For small business owners, the question of growth is an important and time-intensive one. Developing a solid plan of action to make the business grow may not receive the amount of attention and consideration that it warrants, as day-to-day tasks often take priority. However, if your business plan includes a quick exit, growth should be at the forefront of all business activities.

Fortunately, it is possible to grow your business quickly, allowing you to focus on other aspects of running the business. The tips below have been selected to help you maximize business value with exit in mind.

 

Invest in your product

It may sound obvious, but it is absolutely necessary to put in the time, resources and effort to ensure that your company’s product is of top quality. In today’s world, consumers have hundreds of options to consider when making a purchase, so providing goods or services that a customer can rely on time and time again will help build brand loyalty. Remember that the earning opportunity in the future will help balance your investments in the long run.

Investors will want to see that your product is trusted, saleable, and has a good market share, so getting it right from the start can pay off when it comes time to sell.

 

Retargeting advertisements on social media

Advertising on social media is a great way to reach a large and engaged audience. However, simply sharing ads about your company or product does not necessarily equate to sales. Retargeting advertisements can serve a unique message – such as a promotion – to previous visitors of your website or people who have already viewed your company’s ads in the past. These types of ads encourage return-visits to your website and repeat purchases.

A repeat business market helps to grow the value of your business as it shows investors that the product or service does not have a finite lifecycle. It also demonstrates brand loyalty and business goodwill, an intangible asset that is always of interest to potential buyers.

 

Build a great team of employees

It takes much more than a great product and marketing to build a business. You also need internal growth and staff who are motivated to make the business succeed. It’s important to hire employees who are willing to align with your vision for the business and its values. These employees will be able to oversee a variety of tasks to enhance growth, while you can focus on your respective priorities. Additionally, you may be able to rely on your strongest employees to help refer trusted candidates for future roles within your company.

Even though you may be looking to sell the business in 5 years or less, a strong workforce will increase its value. It demonstrates to investors that the business can operate without you at the helm, and can be taken over by existing employees.

 

While there are many strategies to grow your business, the above methods are specifically useful for businesses who are growing with the intent to sell. Businesses that plan their exit early have a higher chance of a good sale value, so contact us at Transact Business Group to get started on planning your exit strategy today.

I have made use of the services of James Taylor to sell two businesses in the last few years. Throughout the process I have found James to be professional, knowledgeable and thorough. James was able to find high quality prospective purchasers who were financially capable and ready to purchase my businesses. James has a vast network of contacts and maintains regular communications and updates throughout the sale process. James was able to use his wealth of experience and professional network to guide me through to a successful sale for both businesses. I have already recommended James to several of my business colleagues and would not hesitate to do so again in the future.

The business was in a growth stage, so that meant there were hundreds of enquiries. James’ seasoned experience was demonstrated in the way he methodically worked through the enquirers weeding out the time wasters, and qualifying the real potential candidates. The process of selling this business was drawn out on the back of the recent tougher constraints on lending from the banks. As such, I believe James spent a lot more time on the sale than his fee had allowed for. Yet he did this with unwavering enthusiasm and continued head strong into meeting after meeting with potential clients, all in after business-hours... James stood by and saw it to the end. Many times when buyers become a little bewildered  or disillusioned, James’ keen advice to the other side kept them on track. I could not recommend his service any more, it really is a cut above the rest. 

I was very impressed with our Business Broker, James Taylor. James was very professional in all his dealings and guided me smoothly right through the entire buying and franchisor approval process. He regularly communicated with me and allowed me to draw on his excellent knowledge of small business and franchising. I would recommend him to others who are considering buying or selling a franchised business.

James helped to sell our business and was a pleasure to do business with. From his initial consultation he provided a professional service to the highest quality. His personal knowledge of the Franchise Systems helped to find and guide our buyer through the whole process. I fully recommend James to anyone looking to buy or sell a business.

Toby has provided tremendous support throughout the whole purchasing process, and exceeded all my expectations as a buyer. He has gone out of his way to facilitate between multiple parties and move things along, and the purchase could not have been completed without him and the team from Transact.

Throughout all stages of our business acquisition Garry was extremely professional and ensured consistent communication between all parties involved.  Not only was he very responsible in all of our dealings, but he also offered broad advice, guidance and the support we were looking for based on his knowledge and experience across a number of industries. Throughout the process Garry was a great sounding board for us and always available at any time.  Without hesitation, we would recommend Garry and the Team at Transact Business Sales to any future client and are more than happy for any potential clients to get in contact with us directly for any additional feedback on Garry.